The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-05-28
THE STATE OF TRADE.
\ aENEnA1 BUSINESS REvIEw,

lHE DlAlE$ VI lNAUE
A GENERAL BUSINESS REvrEN
The Recent lain Raises tho Hopes OF IL
Agricultural Dlstricts-specu ulntion sun
| Rife In tho Numerous branches. .
| Foreign Commerce-Iron Market.
NEw YoRE, May 27.-R, G. Dun & Co.
weekly trade review says: The most In
portant news Of the week Ia also the best
that crop prospects have decidedly In
proved. In view OF grea. speculations 4
wheat and cation, and false reports care
fully circulated Ivy interested parties, 1t
well to know that our own agents tele
graph from Wiaconain, "Local rains hay
helped the agricultural Districts" From
Minnesota, "Rains throughout the North
west very materially improve the croI
prospects. From Indiana, "Crop prospects
excellent for exceptionally large crops
recent coplous rains Of great benefit
From New 0fleans, "Grop prospects gen
orally good" aud thoss are samples OF IA
vorable dispatched from nearly all quar-
terra. The fear Of injury thus far seem.
satisfactorily removed, and il harm tc
wheat or cotton IL TO come, 1t must be
al IL tFtl In
This good news for tho whole country
is disheartsning, however, when financial
prospects have come TO depend upon the
success Of gigantic spsculations for an I'D.
vance fn tto prices Of products. The
financial future is also affected by the
large receipts Of tho Treasury amounting
for ten months and twenty days to S3l,
6l2,SG7 more than the receipts for the
same part Of tho previous year. At the
same ratio the Treasury mint take from
the market very large sum every month
alter the last call, for 3.per-cents mature
July lst, Washington dispatches stating
that the Administration will purchase
bonds with great reluctance, il atall. The
lsst statement OF the New York banks
showed an increase OF loans aud reserves
because Mr.. Manhings new bank was for
the Grst tiGe included, but the drain Of
money to Chlcsgo 10 meet the needs OF
speculation still continues, the return TO
that point from the interior being retarded
by real eatste and ether activity exten.
sively prevailing.
FOREIGN COMMERCE.
Foreign commerce does not improve.
Aprils imports exceed exports by SIS.
9I3.975, an excesa equalled in one month
Of 1882 after partial failure OF crops, and
in no month since 1872. New YORK ex.
ports to May are LII per cent below those
last year, with imports exceeding those
OF last year by 1L3 per cent, which would
foreehadow an excess OF about Sl4 200, 900
in imports this month. The prevailing
speCulstions rather than the Interstate
act cause decline in exports, for ship.
ments OF grsin by lake and rail are msde
without regard u local rail rates,
The Interstate Commerce Commission
has not revoked lts order suspending the
fourth section, but all information tends
to the belief thst it will do so, and points
to rigid Enforcement of tie act. Much
complaint is made even now with the rate
for distanceis not every where enforced OF
the transfer Of trade from large 10 emaller
towns, and from eastern to interior cities.
\ great number Of quits have been com.
menced, and complaints flied, Indicate
that the COSTS OF transportation will be iu-
creased rather than diminished. Earn
ings still are largs and encouraging, but a
war OF rates in the Northwest results from
milling in transit contracts issued by
st. Paul and other roads, and competition
OF Canadian and water routes Is felt more
severely every week.
GENERAL BUSINESS.
Accounts from nearly all quarters are
decidedly favorable. At PHILADELPHIA
trade is lsnguid and there is some com.
plant Of slow collections at New Orleans
Money is rather tighter, and at Cincinnati
collections are iair, with room for i'm.
provement, bu! 10 the river ports the in
dicative trade for the eeason ther, il q
goud supply oil money for all legitimate
business and collections are satisfactorily
prompt.
In the iron trade, Pittsburgh homes 10
SEQ many "bsnked" furnaces get At work
again by reduction in the price OF coke
and the termination Of the strike. 1t is
also believed in Detroit that the strike o!
the stove moulders will end this week and
work RESUMED Mondsy. Better trade in
tobacco is noted ut Cincinnati, and the
real estate excitement does not abate.
The great eale ct Western Nashville re.
suited satisfactorily with heavy purchases
by Eastern investors, Gnd prices are sus.
tanned with great confidence at Omaha
and other Western points by more iavors.
BILE crop prospects.
The coffee market, alter week OF sd-
vancing prices, declined sharply yeater.
day morning. Wheat gained little during
the week, and the collapse OF the CLIQUE is
by many apprehended. Hogs and pork
products, with cattle, were shade lower,
and sugar, cotton and oil little stronger.
No definite improvement appears in the
market ior WOODEN goode, snd the great
auction sale OF danneis causes hesitation,
but the market Tor cotton il healthy and
strong.
The business failures during the last
seven days number for tho United States
l53, Tor Canada ~, total Of l75, against
$50 last week, and Isl for the correspond
ing week Of last year.
Government ltusinnSa,
WASHINGTON, D. o., May 97.-The bust
mesa OF the government 80 far thiu month,
indicates a large reduction in the public
debt. Receir,s 10 date, S3l ,2S5 ,02l; ex-
penditures, 80 5i6 S33; surplus ior the
month, il0,T3S.lSS The expenditures
included aboutSl0,0OO. 900 paid on account
OF pensions.